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Frequently Asked Questions.
How do you determine the value of my trade-in?
We have partnered with KBB, one of the most trusted names in the automotive business to provide you with a vehicle value estimation. This online tool uses general market data to present you with an estimate only of the value of your vehicle only. The online tool cannot provide you with a final, or guaranteed value for your vehicle.
Is the value I see online a final offer price?
Vehicle condition, maintenance needed, and market factors will play a role in the final valuation of your vehicle. The offer you see online is intended as an estimation only. A professional appraisal expert will need to review your vehicle in person at the dealer to provide you with a final written trade-in value. All online tools are simply an estimate and do not represent a guarantee of value.
Why was the value I was offered at the dealer different than the value I saw online?
This is a common question. Any online tool can only go so far. When a professional appraisal expert looks at your vehicle they are likely assessing the vehicle’s overall condition and market differently than you might. The appraiser is looking for all the items that need to be corrected to resell the car again. Tires less than 50% or not OEM approved tires need to be replaced at $1,500- $2,000 on average, the windshield may have a chip and needs to be replaced at $2,000 -$3,500 on average, the bumper may need to be repainted at $450 or more, maintenance needs to be done at $650 estimate, etc. It all adds ups. Your appraiser will be able to speak with you if you have specific questions on how the final appraisal value was determined.
What if I owe money to the bank on my current car?
Very few people pay cash outright for their vehicles. Most people owe some money on their current car. If your vehicle is financed with a bank loan or leased, you can contact your lender for an official payoff letter from the bank. Alternatively, depending on the lender our online tool can sometimes provide you with an estimated payoff value. Not all banks participate so we may not be able to get an estimate of your payoff using our online tool.
Be careful on a lease. Something the bank will provide you with the “balance to maturity” and not a payoff. The balance to maturity is only the balance you owe on the lease agreement. The payoff on a lease is the balance to maturity + disposition fee or other fees (may be waived by bank in some cases) + residual value at the end of the lease.
My vehicle has been in a minor accident. How will that affect the trade-in value?
Online tools are not able to assess vehicles with prior repairs because the quality of repairs varies considerably. Please bring any receipts you have from any prior work performed. Great quality repairs done at an approved body shop will always carry a high value than repairs done at a non-approved repair facility. A professional appraiser will need to inspect the records and the overall quality of the repairs to determine the value of the vehicle after a repair is done.
My vehicle has custom options, equipment, and/or modification done to it. How will that affect the trade-in value?
Given the unique nature of custom modifications and equipment, it is best to bring your vehicle in for an inspection just as it is now. Please bring in any receipt or repair order for the appraiser to inspect. A professional appraiser will be able to tell you what adds value to your vehicle and what diminishes the value of your vehicle.
*Values and/or pricing are the opinions of Kelley Blue Book, and the actual price of a vehicle may vary. The value and pricing information displayed for a particular vehicle is based upon the specification, mileage, and/or condition information provided by the person generating this report. Kelley Blue Book and Bob Smith BMW assume no responsibility for errors or omissions. Any Values and/or pricing provided online are estimates only and DO NOT constitute an actual cash value nor a guarantee of value. Values and/or pricing are subject to change at any time without notice. Please visit Bob Smith BMW at 24500 Calabasas Rd, Calabasas, CA to have an in-person appraisal performed by one of our professional appraisal associates.